When must an agent provide their insurance records to the State Corporation Commission?

An agent is required to provide their insurance records to the State Corporation Commission upon the request of the Commission. This requirement is in place to ensure that the Commission can effectively monitor and enforce compliance with insurance laws and regulations within Virginia. By allowing the Commission access to these records, it facilitates the oversight of the insurance market, ensuring that agents operate fairly and responsibly.

This process is essential for maintaining the integrity of the insurance industry and protecting consumers. It ensures that agents are adhering to relevant laws and regulations, which can include verifying their conduct and any potential violations. Regular reporting requirements like annual submissions could create an unnecessary administrative burden, and requiring records only upon request allows the Commission to target specific areas of concern or investigation as needed.